FY2024 Earnings Estimate for CBSH Issued By Zacks Research

Commerce Bancshares, Inc. (NASDAQ:CBSH) – Analysts at Zacks Research boosted their FY2024 earnings per share estimates for Commerce Bancshares in a research note issued to investors on Thursday, November 7th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings per share of $3.97 for the year, up from their prior estimate of $3.88. The consensus estimate for Commerce Bancshares’ current full-year earnings is $4.02 per share. Zacks Research also issued estimates for Commerce Bancshares’ Q4 2024 earnings at $0.97 EPS, Q1 2026 earnings at $1.04 EPS, Q2 2026 earnings at $1.03 EPS, Q3 2026 earnings at $1.07 EPS and FY2026 earnings at $4.22 EPS.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The business had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million.

A number of other equities research analysts also recently commented on CBSH. Wells Fargo & Company lifted their target price on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.79.

Commerce Bancshares Price Performance

NASDAQ CBSH opened at $71.94 on Monday. The stock’s fifty day moving average price is $61.71 and its 200 day moving average price is $59.33. Commerce Bancshares has a 1 year low of $42.48 and a 1 year high of $72.74. The company has a market cap of $9.22 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 3.76 and a beta of 0.73.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares’s payout ratio is presently 28.13%.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, Chairman David W. Kemper sold 30,000 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the transaction, the chairman now owns 1,151,994 shares of the company’s stock, valued at approximately $71,170,189.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Chairman David W. Kemper sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the completion of the sale, the chairman now directly owns 1,151,994 shares of the company’s stock, valued at approximately $71,170,189.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $62.23, for a total value of $124,460.00. Following the completion of the sale, the senior vice president now directly owns 23,381 shares in the company, valued at approximately $1,454,999.63. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,331 shares of company stock valued at $2,062,778 over the last quarter. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Commerce Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. grew its stake in Commerce Bancshares by 0.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock worth $1,724,000 after buying an additional 154 shares during the last quarter. Sound Stewardship LLC raised its position in shares of Commerce Bancshares by 3.9% during the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 163 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Commerce Bancshares by 51.1% during the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 192 shares during the last quarter. Outlook Wealth Advisors LLC grew its position in shares of Commerce Bancshares by 3.6% in the third quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 217 shares during the period. Finally, Marshall Financial Group LLC increased its stake in shares of Commerce Bancshares by 1.2% during the 3rd quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider’s stock valued at $1,084,000 after acquiring an additional 223 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

About Commerce Bancshares

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.